Celestica (NYSE:CLS) PT Raised to $47.00 at Royal Bank of Canada

Celestica (NYSE:CLS) (TSE:CLS) had its price target increased by analysts at Royal Bank of Canada from $38.00 to $47.00 in a research note issued to investors on Monday, BayStreet.CA reports. The firm presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 7.43% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Canaccord Genuity Group upped their price objective on shares of Celestica from $32.50 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. TD Securities lifted their price target on Celestica from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. CIBC upped their price objective on Celestica from $33.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Finally, BMO Capital Markets lifted their target price on Celestica from $37.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.38.

Celestica Stock Up 1.8 %

Shares of NYSE:CLS opened at $43.75 on Monday. The business’s 50 day moving average is $44.20 and its 200 day moving average is $33.99. Celestica has a 12-month low of $10.50 and a 12-month high of $51.12. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 21.65 and a beta of 2.22. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.41.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.08. Celestica had a return on equity of 17.09% and a net margin of 3.07%. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.08 billion. On average, sell-side analysts forecast that Celestica will post 2.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celestica

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Celestica by 50.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,094,994 shares of the technology company’s stock valued at $149,153,000 after acquiring an additional 2,054,918 shares during the period. Vanguard Group Inc. lifted its holdings in Celestica by 15.2% during the 4th quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company’s stock worth $124,924,000 after purchasing an additional 562,157 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Celestica by 72.9% in the 4th quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock worth $99,163,000 after purchasing an additional 1,428,071 shares during the period. WCM Investment Management LLC purchased a new position in Celestica during the 4th quarter valued at about $67,832,000. Finally, Shannon River Fund Management LLC bought a new stake in shares of Celestica during the third quarter valued at about $41,565,000. 67.38% of the stock is currently owned by institutional investors.

Celestica Company Profile

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.